Bachmann Suspending Campaign

WASHINGTON - U.S. Republican presidential hopeful Michele Bachmann ended her bid for the White House after coming in a distant sixth in the Iowa caucuses.

In a press conference that came just hours after the Iowa caucuses closed, Bachmann conceded that the White House was not a realistic goal.

“Last night the people of Iowa spoke with a very clear voice and so I have decided to stand aside,” Bachmann said, adding that “I believe that we must rally around the person that our country and our person and our people select to be that standard bearer.”

She did not endorse any of her rivals.

“I have no regrets, none whatsoever. We never compromised our principles and we can leave this race knowing that we ran it with utmost integrity. We made a very important contribution to this race.”

The U.S. congresswoman's decision to pull out could favor rival Rick Santorum, who narrowly came in second to Mitt Romney in Tuesday's Iowa caucuses.

Santorum, Bachmann and Texas Governor Rick Perry, who is "reassessing" his campaign, have been courting support from evangelical Christians. If a significant number of evangelicals eventually rally behind Santorum, his long-shot campaign could receive a major boost.

Bachmann said that her candidacy was in large part fueled by her opposition to Obamacare and the massive and widely criticized Dodd-Frank financial reform measure that President Barack Obama had signed into law.

“While a congressman by title, a politician I never have been, nor will I ever hope to be because I am not motivated in this quest by vain glory or the promise of political power,” Bachmann insisted. “I have served one singular purpose in Washington, D.C. — to lead an effort that was begun by the people of this country.

“I ran as the next stepping stone of passing on, and protecting that torch of liberty and that duty required taking on the charge of repealing both Obamacare and Dodd-Frank which mandated ensuring the election of 13 additional Republican senators to guarantee that legislation’s demise. These words are a warning: The implementation of Obamacare will represent a turning point for our country and our economy.”